...happens is GMGMQ stock nullified? Obviously the "Good GM" all of the assets that are worth anything and will be owned by the Govt., some bond holders, and the union and may later be released as a new stock, but I'm not sure what happens with the "Bad GM". Does the GMGMQ symbol stay with them, or is it cancelled to $0 immediately when the new GM emerges in July?
I have July $1 Puts on GMGMQ. I'm hoping it will be cancelled when the new GM emerges in a couple weeks, but can't seem to get a good answer if this is what happens or if the stock keeps trading.
I have July $1 Puts on GMGMQ. I'm hoping it will be cancelled when the new GM emerges in a couple weeks, but can't seem to get a good answer if this is what happens or if the stock keeps trading.